10 Best Data Rooms for Startups in 2025: Features, Pricing, Comparison
Startups with professional data rooms close funding rounds 25-40% faster and at 10-15% higher valuations according to PitchBook research, yet most founders still use Google Drive or email—signaling operational immaturity to investors. VCs reviewing 200+ companies annually immediately assess execution based on materials organization.
Peony provides startup-optimized data rooms: AI-powered organization structures documents professionally in minutes, page-level analytics show investor engagement, custom branding signals quality, and startup-friendly pricing ($40/user/month) fits pre-revenue budgets. Purpose-built for startup fundraising.
Here are the 10 best data room platforms for startups in 2025.
Quick Comparison
| Platform | Starting Price | Free Plan | Unlimited Rooms | AI Features | Custom Branding | Best For |
|---|---|---|---|---|---|---|
| Peony | $0 | ✅ Yes | ✅ Yes | ✅ Yes | ✅ Yes | Modern startups |
| Ansarada | Contact | ❌ No | ❌ No | ⚠️ Basic | ⚠️ Logo | Enterprise M&A |
| iDeals | Contact | ❌ No | ❌ No | ⚠️ Basic | ⚠️ Logo | Large deals |
| DocSend | $15/mo | ❌ No | ❌ No | ❌ No | ❌ No | Pitch tracking |
| PandaDoc | $35/mo | ❌ No | ❌ No | ✅ Yes | ❌ No | eSignatures |
| Digify | $75/mo | ❌ No | ❌ No | ❌ No | ❌ No | Basic security |
| Box | $20/user | ⚠️ Basic | ❌ No | ❌ No | ❌ No | Compliance |
| FirmRoom | Contact | ❌ No | ❌ No | ❌ No | ⚠️ Logo | M&A focus |
| Notion | $0 | ✅ Yes | ✅ Yes | ⚠️ Basic | ❌ No | Internal docs |
| SecureDocs | $250/mo | ❌ No | ❌ No | ❌ No | ❌ No | Budget VDR |
What Startups Need from Data Rooms
Essential features:
- Investor-ready organization (professional structure)
- Startup-friendly pricing (less than $100/month)
- Easy setup (less than 1 hour)
- No training required (intuitive interface)
- Security features (watermarks, permissions)
- Analytics (track investor engagement)
- Mobile viewing (investors on-the-go)
Nice-to-have features:
- Custom branding (professional impression)
- AI organization (save time)
- Unlimited data rooms (multiple rounds)
- Version control (update documents easily)
- NDA workflows (legal protection)
1. Peony - Best for Modern Startups
Website: peony.ink
Why startups choose Peony:
Free tier for early-stage:
- Unlimited data rooms
- Core security features
- Page-level analytics
- Perfect for pre-seed/seed
AI-powered organization:
- Upload docs in bulk
- AI creates professional structure
- Suggests missing documents
- Investor-ready in 30 minutes
Startup-specific features:
- Track investor engagement (who viewed, how long)
- Custom branded domain (yourcompany.peony.ink)
- Pitch deck analytics (slide-by-slide)
- Fundraising-optimized templates
Professional presentation:
- Modern, fast interface
- Mobile-optimized viewing
- No investor training needed
- Signals execution quality
Security without complexity:
- Bank-grade encryption
- Dynamic watermarks
- Email verification
- Screenshot protection
- Access revocation
- Link expiration
Pricing:
- Free: Unlimited rooms, core features - Perfect for pre-seed
- Pro: $25/month - Advanced analytics - Good for seed
- Business: $40/month - Custom branding - Series A+
- Enterprise: Custom - white-label
Best for: Pre-seed to Series B startups prioritizing speed, analytics, and value.
2. Ansarada - AI-Powered Enterprise VDR
Website: ansarada.com
Strengths:
- AI-powered features
- Purpose-built for deals
- Modern interface
- Good automation
Limitations:
- Expensive ($500-$2,000+/month)
- Overkill for early-stage
- Complex for simple needs
- No free tier
Pricing: Contact sales (expensive for startups)
Best for: Series B+ startups with enterprise buyers, not early-stage.
3. iDeals - Traditional VDR for Large Deals
Website: idealsvdr.com
Strengths:
- Investment banking standard
- 24/7 support
- Multi-language
- Proven for large M&A
Limitations:
- Very expensive ($600-$2,000+/month)
- Dated interface
- Complex setup
- Not startup-optimized
Pricing: Contact sales ($600+/month minimum)
Best for: Late-stage startups with major M&A or growth equity deals.
4. DocSend - Pitch Deck Tracking Focus
Website: docsend.com
Strengths:
- Excellent analytics
- Used by many VCs
- Good for pitch decks
- Dropbox integration
Limitations:
- Expensive ($180-$3,600/year)
- No free plan
- Limited data room features
- No custom branding
Pricing: $15-$300/month
Best for: Funded startups prioritizing pitch deck analytics, can afford premium.
5. PandaDoc - eSignature-First Platform
Website: pandadoc.com
Strengths:
- Built-in eSignatures
- Template library
- Workflow automation
- AI document generation
Limitations:
- Not purpose-built for data rooms
- Expensive per-user ($35-$65/month)
- Limited security features
- No fundraising optimization
Pricing: $35-$65/user/month
Best for: Startups needing heavy eSignature usage, not pure data room.
6. Digify - Basic Document Protection
Website: digify.com
Strengths:
- Document tracking
- NDA workflows
- Reasonable pricing
- Decent security
Limitations:
- Basic data room features
- Limited analytics depth
- No AI capabilities
- No custom branding
Pricing: $75/month (Pro)
Best for: Budget-conscious startups needing basic security.
7. Box - Compliance-Focused Storage
Website: box.com
Strengths:
- Strong compliance (HIPAA, FedRAMP)
- Enterprise security
- Good integrations
- Reliable platform
Limitations:
- Not startup-optimized
- Per-user pricing expensive
- Basic data room features
- No fundraising analytics
Pricing: $20-$35/user/month
Best for: Healthcare or regulated industry startups needing specific certifications.
8. FirmRoom - M&A-Focused VDR
Website: firmroom.com
Strengths:
- Purpose-built for M&A
- Good security
- Reliable support
Limitations:
- Expensive for startups
- Not fundraising-optimized
- No free tier
- Traditional interface
Pricing: Contact sales ($300-$1,000/month)
Best for: Late-stage startups in acquisition discussions.
9. Notion - Flexible Internal Workspace
Website: notion.so
Strengths:
- Free tier available
- Flexible organization
- Great for internal docs
- Team collaboration
Limitations:
- Not purpose-built for external sharing
- No analytics
- Basic security
- Generic appearance
- No investor-specific features
Pricing: $0-$10/user/month
Best for: Internal documentation and team collaboration, not investor-facing.
10. SecureDocs - Simple Budget VDR
Website: securedocs.com
Strengths:
- Flat-rate pricing ($250/month)
- Simple interface
- Quick setup
- Predictable costs
Limitations:
- Very basic features
- Dated design
- No AI capabilities
- Limited analytics
- No custom branding
Pricing: $250/month flat
Best for: Startups needing ultra-basic VDR on budget, first-time users.
Selection Criteria for Startups
Must-Have Features
Security fundamentals:
- Encryption at rest and transit
- Email verification
- Access permissions
- Audit trails
- Link expiration
Usability essentials:
- Fast setup (less than 1 hour)
- Intuitive interface
- Mobile viewing
- No recipient training needed
Fundraising basics:
- Document organization
- Investor access management
- Basic tracking
- Professional appearance
Budget Considerations
Pre-seed to Seed:
- Budget: $0-$50/month
- Recommended: Peony Free or Pro
- Avoid: Enterprise VDRs ($500+/month)
Series A:
- Budget: $50-$150/month
- Recommended: Peony Business
- Consider: Custom branding importance
Series B+:
- Budget: $150-$500/month
- Recommended: Peony Enterprise or specialized VDRs
- Consider: White-label requirements
Scalability Needs
Single round:
- One data room sufficient
- Per-project pricing okay
- Peony Free works
Multiple rounds/ongoing:
- Unlimited rooms essential
- Flat-rate pricing better
- Peony Pro ideal ($40/user/month unlimited rooms)
Common Startup Mistakes
Mistake 1: Using consumer tools
- Google Drive/Dropbox for investors
- Signals amateur operation
- No analytics or security
- Solution: Use proper data room
Mistake 2: Over-spending early
- $300-$1,000/month VDRs pre-revenue
- Unsustainable for runway
- Enterprise features unused
- Solution: Start with Peony ($40/user/month affordable)
Mistake 3: No investor tracking
- Can't gauge interest levels
- Miss follow-up signals
- No optimization data
- Solution: Enable analytics
Mistake 4: Poor organization
- Disorganized folders
- Inconsistent naming
- Missing documents
- Solution: AI-powered organization
Mistake 5: Generic presentation
- No branding
- Generic appearance
- Doesn't stand out
- Solution: Custom branded domain
Measuring Data Room ROI
Track these metrics:
Deal velocity:
- Time to close funding (target: 25-40% faster)
- Due diligence duration
- Information request response time
Valuation impact:
- Professional presentation premium (10-15% higher)
- Credibility signal
- Execution confidence
Time savings:
- Manual organization avoided (20-40 hours)
- Repeated questions reduced
- Team focused on building
Investor engagement:
- View rate (target: greater than 80%)
- Completion rate (target: greater than 60%)
- Return visits (strong interest)
- Conversion to term sheets
How Peony Optimizes for Startups
Peony purpose-built for founders:
Free for early-stage:
- No credit card required
- All core features
- Unlimited data rooms
- Perfect for bootstrapped startups
AI saves founder time:
- 30 minutes vs. 20-40 hours setup
- Automatic document organization
- Missing document alerts
- Professional structure guaranteed
Investor insights:
- Track engagement per investor
- Identify hot prospects
- Optimize deck based on analytics
- Time follow-ups perfectly
Scales with growth:
- Free → Pro ($25) → Business ($40) → Enterprise
- Add features as you need them
- No forced upgrades
- Cancel anytime (month-to-month)
Professional brand:
- Custom domain ($40/month)
- White-label experience
- Modern interface
- Competitive differentiation
Result: Fundraise faster, cheaper, with complete visibility.
Conclusion
The right data room can accelerate fundraising, improve valuations, and save founder time. For startups, key criteria are affordability (less than $100/month), ease of use (less than 1 hour setup), analytics (track investor engagement), and security (protect IP).
While enterprise VDRs serve late-stage well, early and growth-stage startups find optimal value in Peony: free tier for pre-seed, AI organization saving 20-40 hours, complete investor analytics, and professional branding—all at startup-friendly pricing.
Create your startup data room: Try Peony free